Gabelli Funds LLC Buys 25,000 Shares of Halliburton (NYSE:HAL)

Gabelli Funds LLC raised its stake in Halliburton (NYSE:HAL) by 1.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 1,367,345 shares of the oilfield services company’s stock after purchasing an additional 25,000 shares during the quarter. Gabelli Funds LLC owned 0.16% of Halliburton worth $31,093,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in shares of Halliburton by 2.0% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 582,369 shares of the oilfield services company’s stock valued at $13,243,000 after acquiring an additional 11,695 shares in the last quarter. Chicago Equity Partners LLC bought a new position in shares of Halliburton during the second quarter valued at approximately $532,000. Qube Research & Technologies Ltd raised its holdings in shares of Halliburton by 53.2% during the second quarter. Qube Research & Technologies Ltd now owns 73,989 shares of the oilfield services company’s stock valued at $1,683,000 after acquiring an additional 25,690 shares in the last quarter. Pzena Investment Management LLC raised its holdings in shares of Halliburton by 89.8% during the second quarter. Pzena Investment Management LLC now owns 23,591,540 shares of the oilfield services company’s stock valued at $536,472,000 after acquiring an additional 11,163,777 shares in the last quarter. Finally, Comerica Bank raised its holdings in shares of Halliburton by 5.6% during the second quarter. Comerica Bank now owns 180,785 shares of the oilfield services company’s stock valued at $3,938,000 after acquiring an additional 9,597 shares in the last quarter. Hedge funds and other institutional investors own 79.03% of the company’s stock.

A number of equities analysts recently commented on HAL shares. Morgan Stanley decreased their target price on Halliburton from $40.00 to $36.00 and set an “overweight” rating for the company in a report on Friday, July 12th. Piper Jaffray Companies set a $26.00 target price on Halliburton and gave the company a “buy” rating in a report on Monday, July 1st. Citigroup decreased their target price on Halliburton from $33.00 to $30.00 and set a “buy” rating for the company in a report on Tuesday, July 23rd. Edward Jones downgraded Halliburton from a “buy” rating to a “hold” rating in a report on Monday, June 10th. Finally, Bank of America restated a “buy” rating and set a $32.00 target price (down previously from $42.00) on shares of Halliburton in a report on Tuesday, June 25th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have assigned a buy rating to the company’s stock. Halliburton presently has an average rating of “Buy” and an average price target of $39.78.

Shares of NYSE HAL traded up $0.36 during trading on Monday, reaching $19.23. The company had a trading volume of 137,107 shares, compared to its average volume of 15,420,304. Halliburton has a 12-month low of $17.46 and a 12-month high of $42.57. The stock has a market cap of $16.53 billion, a PE ratio of 10.12, a P/E/G ratio of 2.15 and a beta of 1.30. The business’s 50-day moving average is $21.93 and its 200 day moving average is $26.21. The company has a quick ratio of 1.59, a current ratio of 2.26 and a debt-to-equity ratio of 1.16.

Halliburton (NYSE:HAL) last released its earnings results on Monday, July 22nd. The oilfield services company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.05. Halliburton had a return on equity of 13.76% and a net margin of 5.58%. The firm had revenue of $5.93 billion for the quarter, compared to analysts’ expectations of $5.97 billion. During the same period in the prior year, the firm posted $0.58 earnings per share. The company’s quarterly revenue was down 3.5% on a year-over-year basis. On average, analysts anticipate that Halliburton will post 1.34 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th will be paid a $0.18 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.74%. Halliburton’s dividend payout ratio is currently 37.89%.

Halliburton Profile

Halliburton Company provides a range of services and products to oil and natural gas companies worldwide. The company's Completion and Production segment offers production enhancement services, including stimulation and sand control services; and cementing services, such as bonding the well, well casing, and casing equipment.

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Institutional Ownership by Quarter for Halliburton (NYSE:HAL)

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